A third of young drivers happy to lie if it means a cheaper deal on car insurance

18th November 2014

A third of young drivers are happy to lie if it means getting a cheaper deal on their car insurance.

Research from switching site, Gocompare.com found that 33% of UK drivers aged between 18 and 24 do not mind telling a few fibs to get a cheaper car insurance quote – compared to 18% of all those surveyed.

In fact 50% of those aged between 18 and 24 also said that they believed everyone told a few white lies when it came to quoting for car insurance, and just under three quarters, at 70% of that age group believe that insurers charge too much for cover, so they can afford it.

But the older generation are not so keen on being economical with the truth, as the survey found only 6% of those aged 65 and over agree that it is acceptable to lie, and nearly two fifths, at 37% in that demographic think that everyone tells a few porkies to get a cheaper car insurance quote.

The survey found:

14% confessed they had guessed or lied about their annual mileage

5% fibbed about where their car is parked

5% lied about their job titles

5% have admitted to damaging a car and driving off

3% hid the truth about previous claims

3% told porkies about the points on their licence

Matt Oliver, Gocompare.com’s car insurance spokesman, said: “It’s good to see that most people are open and truthful when it comes to getting a car insurance quote, as the onus is on the consumer to be as honest and careful as possible when signing an insurance document and to take reasonable care not to make a misrepresentation.

“Car insurers take all of the information given to them to calculate the cost of your car insurance – everything influences the final price. Overinflating or excluding crucial details could have a massive effect on your quote, and could mean that the insurance you take out could be cancelled or invalidated, an insurer could even decide not to pay out should you have an accident.”

Oliver warned that having any insurance product cancelled could end up in insurers refusing to cover the individual involved in the future – for any product.

He added: “Everyone likes to save a few pounds here and there, but stretching the truth when getting an insurance quote is a false economy. Insurance does exactly what it says on the tin – ensures that should something happen to you or your car, that are adequately protected and that you, hopefully, won’t end out of pocket – therefore, when applying for a quote ensure you do all you can to give as much accurate information as possible. Otherwise you could end up paying through the nose for insurance that is useless when you need it most.”